Question 25 Chapter 1 of +2 Part-1 – USHA Publication 12 Class Part – 1

Question 25 Chapter 1 of +2- Part-

Question 25 Chapter 1 of +2-Part-1

25. (Treatment of Interest received) Calculate the interest to be credited to Income and Expenditure account for the year 31-3-2015 :

Particulars  Rs.
Interest received 32,500
Interest Accrued 1-4-14 9,100
Interest Accrued 31-3-15 5,200

The solution of Question 25 Chapter 1 of +2 Part-1: – 

Interest to be credited to Income and Expenditure account
Particulars
Amount
Interest received during the year   32,500
Add: Interest accrued at the end   5,200
    37,700
Less: Interest accrued in the beginning   (9,100)
Interest credited to Income and Expenditure Account   28,600

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Also, Check out the solved question of previous Chapters: –

Usha Publication – Accountancy PSEB (Class 12) – Volume I – Solution

Usha Publication – Accountancy PSEB (Class 12) – Volume II – Solution

 

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2 Book 1 min - Question 25 Chapter 1 of +2 Part-1 - USHA Publication  12 Class Part - 1
Vol. I: Accounting for Not-for-Profit Organizations and Partnership Firms

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